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GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

Corvette Stolen In Detroit Returned To Owner After 33 Years

A Detroit man had his stolen Corvette returned 33 years after it disappeared while parked on one of Detroit's main drags, according to ABC 7. The last time George Talley saw his 1979 Corvette was on a July day in 1981, when it disappeared from its parking spot on Jefferson Avenue in Detroit. He had given up hope of ever seeing his car again, until a phone call from AAA brought his sporty ride home. Authorities had come across a Corvette with a questionable VIN in Hattiesburg, Mississippi. When they ran the number Talley's stolen car report came up. The car is still in pretty good shape and only has 47,000 miles on the odometer. Talley wasn't sure how he could get the car back home, but General Motors stepped in and agreed to cover the cost of bringing the 'Vette home. Talley has always had a passion for Detroit-made muscle cars. "I've always liked Corvettes. It was attractive. The ladies like 'em," Talley told ABC 7.

Super Bowl MVP Tom Brady gives Chevy Colorado to Malcolm Butler [w/poll]

Winning the Super Bowl, we'd imagine, is pretty sweet. Winning the MVP award at the Super Bowl, even more so – for many reasons, among them that you get a brand new Chevy Colorado, packed full of, you know... technology and stuff. Of course this year's Most Valuable Player was none other than Tom Brady, the New England Patriots quaterback who was crowned Super Bowl MVP for the third time and lead the Pats to win the Super Bowl for the fourth time. He makes tens of millions every season, and Mrs. Brady (a.k.a. Gisele Bundchen) probably makes an extraordinarily pretty penny herself. So what does one of the most successful and wealthy players in NFL history need with a new pickup truck? Not a whole lot, apparently: the Boston Business Journal reports that he gave the truck to Malcolm Butler, the rookie cornerback who intercepted Seattle Seahawks QB Russell Wilson's pass on the Patriots' one-yard line with only twenty seconds to go and sealed the victory for New England. Which strikes us as a fitting gesture, even if Brady did keep the MVP trophy for himself. Related Video: Related Gallery 2015 Chevrolet Colorado View 31 Photos News Source: Chevrolet, Boston Business JournalImage Credit: Jamie Squire/Getty Celebrities Chevrolet Truck tom brady new england patriots